Turning the Tide of Plastic Waste and Pollution: Driving a Circular Economy for Plastics | event

Date: Tuesday, 24 October 2023
Time: 15:00-16:00 BST / 16:00-17:00 CEST
Site: Online

Plastic pollution is a global challenge and systemic issue that exposes financial institutions to various material financial risks. Every year we produce 300 million tons of plastic waste (more than the weight of the entire human population), of which only 9% is recycled.

International activity is increasing. The Kunming-Montreal Global Biodiversity Framework (Goal 7) calls for reducing pollution risks from all sources by 2030, in part by 'aiming to prevent, reduce and eliminate plastic pollution’.

In addition, a resolution was passed at the UN Environment Council last year to end plastic pollution and create an international legal treaty on plastics. The resolution was supported by 175 countries and is currently under development between now and 2024. Although policies and regulations on plastic use have risen dramatically in recent years, this agreement will make a significant difference by harmonizing the goals and actions of policymakers around the world.

Ahead of the third round of negotiations to be held in November to develop the agreement, this webinar explores:

  • Why plastic waste and pollution pose a risk to financial institutions, including opportunities for a circular economy for plastics to address climate and biodiversity risks;
  • How financial institutions can take action to address this issue; And
  • How financial institutions can engage with the UN Global Compact currently under development.

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